Stocks rally on dovish Fed comments and retreating yields

Chris Beauchamp IG

Dovish Fed comments lead to stock rally, says Axel Rudolph, Senior Market Analyst at online trading platform IG.

Stocks rally on dovish Fed comments

“Dovish Fed comments that the recent run-up in yields might reduce the need for further rate hikes lowered expectations of another rate rise and led to a stock market rally. In Japan the Nikkei 225 rallied by close to 2.5% and most European stock indices by over 1.5% with US markets following suit as yields retreat."

IMF marginally lowers global growth forecasts for 2024

“The IMF world economic outlook kept its 2023 forecast unchanged but revised its 2024 forecast marginally lower. The UK and Germany saw sizeable downward revisions whereas the US and Japan did better despite global inflation expectations being slightly revised upwards for 2024.

Due to colder weather forecasts and suppliers worrying about increased demand the natural gas price shot up to a six-month high in Europe and a ten-month high in the US. The US dollar basket is on track for its fifth straight day of falls, following eleven straight weeks of gains before coming off last week while the gold and oil price are little changed for the day ahead of this week's US inflation data and as the situation in the Middle East remains precarious."

Author

Chris Beauchamp

EUR/USD consolidates around 1.0900, bullish bias remains ahead of key US data

The EUR/USD pair is seen consolidating its strong gains registered over the past two days and oscillating in a narrow band during the Asian session on Tuesday. Spot prices currently trade around the 1.1900 mark, just below an over one-week high touched the previous day.

GBP/USD tilts bullish as markets barrel toward mid-week NFP print

GBP/USD is holding a broader bullish structure on the daily chart, with price trading well above the 50 Exponential Moving Average at 1.3507 and the 200 EMA at 1.3310, confirming the intermediate uptrend that has been in place since the November 2025 low near 1.2300.

Gold: Will US Retail Sales data propel it above $5,100?

Gold hovers below weekly highs of $5,087 early Tuesday, await US Retail Sales data. The US Dollar enters a downside consolidation phase amid persistent Japanese Yen strength and worsening labor market. Gold settled Monday above $5,000, now looks to take out $5,100 amid bullish daily RSI.

Top Crypto Gainers: World Liberty Financial, MemeCore and Quant gain momentum

World Liberty Financial, MemeCore, and Quant are leading gains over the last 24 hours as the broader cryptocurrency market stabilizes after last week’s correction. Still, the technical outlook for altcoins remains mixed due to prevailing downside pressure and vulnerable market sentiment.

Follow the money, what USD/JPY in Tokyo is really telling you

Over the past two Tokyo sessions, this has not been a rate story. Not even close. Interest rate differentials have been spectators, not drivers. What has moved USD/JPY in local hours has been flow and flow alone.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.